Dissolution of Board

(1) The Administrator may by notification dec that with effect from such date as may be specified in the notification, the Board shall be dissolved. (2) With effect from the date specified in the notification under sub-section (1),— (a) all properties, funds and dues which are vested in and realisable by the Board shall vest in and be realisable by the Central Government; (b) all liabilities enforceable against the Board shall be enforceable against the Central Government to the extent of the properties, fund and dues vested in and realised by the Central Government. (3) Nothing in this section shall affect the liability of the Central Government in respect of loans or debentures guaranteed under sub-section (5) of section 60.